MY HEALTHY, a French innovation that reinvents contactless transactions, marks a breakthrough in the field of healthcare in France. This solution eliminates the need for Electronic Payment Terminals (EPTs), checks or bank cards to pay healthcare costs.
Addressing two of the major challenges of the healthcare market
While other similar solutions already exist, MY HEALTHY stands out by focusing specifically on the needs of healthcare professionals. By simplifying and making financial transactions more fluid, it also guarantees a better customer experience. Since the Covid-19 pandemic, we have become accustomed to these easy, simple and fast payments. Even if in France we are slightly behind compared to Asia or the United States, as usual “, notes Jérôme Villeminot, founder of MY HEALTHY, with a smile. And if Asia and the United States are ahead in the development and adoption of e-payment solutions in the health sector, it is not so much their model that inspired Jérôme. But rather his intrapreneurial and entrepreneurial experiences, ” Upon closer inspection, I noticed that there were three major challenges for patients: the difficulty in making appointments, now resolved by platforms such as Doctolib, the waiting times to get an appointment, often linked to the availability of doctors, and the financial difficulties faced by patients in paying healthcare costs in advance. Seeing this, I said to myself that in the era of artificial intelligence, mobile payment and dematerialization, there had to be a solution to facilitate these processes,” he says.
And indeed, even today, financial transactions for healthcare professionals are carried out using an electronic payment terminal (EPT), by check or in cash. A process with its share of constraints that could almost be described as obsolete: having a network connection, paper in the EPT, or even a charged battery. With our solution, everything comes down to having your mobile phone at hand. No need to carry cash, your bank card, or your checkbook. The practitioner collects with the patient’s bank card directly on his mobile phone or simply presents his QR code to the patient, and the latter confirms the transaction on his MY HEALTHY application or on that of his bank. A simple and smooth process “, continues Jérôme. Between 30 and 50% of healthcare professionals still only accept cash or checks. A concrete example is in the field of orthodontics, where patients often use checks because of the high treatment costs. However, it is precisely these habits and practices that make administrative management more cumbersome for practitioners and increase the risks associated with cashing bad checks. “With MY HEALTHY, healthcare professionals can now offer their patients the option of splitting the payment of these amounts into three installments, in a digitalized, simple and secure manner. While healthcare practitioners generally struggle to have a clear view of their financial situation at the end of the day, unless they count checks, cash, etc., our solution provides clarity and transparency,” explains Jérôme.
Social commitment, split payment and banking partnership: The mission of MY HEALTHY
MY HEALTHY’s mission is deeply social, focused on the primary desire to help individuals cover their healthcare expenses. This commitment is materialized through an advance payment solution, as well as the financing of the remaining cost, subject to certain eligibility conditions. Although this may seem trivial, this approach is of capital importance for public health. That of facilitating access to care for all. Indeed, according to a survey carried out by the BVA group, a third of French people, and a similar proportion in the regions, forgo care for financial reasons. A rate that can reach up to 50% in certain population categories, such as retirees and other targeted groups. This reality has a significant and obviously worrying impact on public health.Upfront payment is not a miracle solution, but if we can help solve this problem, our mission will be accomplished. Ultimately, upfront payment is a simple matter of shifting: you advance the costs and you are reimbursed by your health insurance. It is a simple transfer, but one that has the power to positively impact society as a whole. And that is our mission; to guarantee access to care for all.” says Jerome.
Between CSR and ambitious objectives: MY HEALTHY’s growth projections
To achieve its growth objectives, MY HEALTHY focuses on the liberal professions, focusing on what Jérôme calls the “large family of therapists”. That is, around ten professions such as osteopaths, nutritionists, physiotherapists, dieticians and naturopaths. Because these are professionals who are traditionally poorly equipped with TPEs, Jérôme explains, and who continue to favor payments by check. In addition, obtaining an electronic payment terminal (TPE) requires a contractual commitment of two or three years with a bank. ” We represent an interesting alternative to this, more modern and independent of any bank.“, emphasizes Jérôme. As for professionals working in private practice, “Our focus is mainly on dentists, dental surgeons and cosmetic surgeons.“, he specifies. But how many of these professionals does MY HEALTHY plan to reach exactly?”It is difficult to quantify our market share, as it is so fragmented. However, we aim to reach 20,000 customers by 2024, and aim to double this figure by 2025.,” says Jerome. He adds: ” By adopting a B2B2C approach, we will offer companies the MY HEALTHY card, allowing their employees to cover their healthcare costs and finance the remaining costs. This solution will strengthen the reputation of companies as responsible employers, which will promote the engagement and loyalty of their staff. This is precisely what the human resources departments of companies are looking for“In terms of corporate social responsibility (CSR) and societal commitment, MY HEALTHY has tangible potential to be exploited to strengthen the attractiveness of companies as employers.
In the United States, this model is already widely adopted, with insurance companies offering health cards and contactless payment solutions by phone. As Jérôme points out, “Innovation is not limited to invention, but also to improving and adapting what already exists..” And if this solution works in other countries, it is because it meets a market need. To gain its market share, MY HEALTHY intends to partner, because ” together we go further, and faster ” notes Jérôme, before continuing ” Regarding our development, we have adopted a self-sustaining financial approach so far. However, we are considering raising funds in early 2025 in order to accelerate our expansion and reach new horizons. “, he concludes.
